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Indifference curve and point of tangency

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Mr. Odde Ball enjoys commodities X and Y according to the utility function U(X,Y) =√(X^2+Y^2 ).

Maximize Mr. Ball's utility if Px = $3, Py = $4, and he has $50 to spend.

Graph Mr. Ball's indifference curve and its point of tangency with his budget constraint. What does the graph say about Mr. Ball's behavior? Have you found a true maximum?

Reference no: EM132617852

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